Economic update for the month ending October 31, 2021 Stock markets surged to record highs in October- Stocks rebounded in
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Dated: April 4 2018
Fed Up With California?
Although the weather in California can’t be beat, more people are moving out than moving in. High housing costs and taxes are causing people to move to states such as Texas, Arizona and Nevada.
From July 2016 to July 2017, California saw 138,000 more people move out than move in. Texas had a net increase of 79,000, Arizona gained 63,000 while Nevada added 38,000.
High cost real estate does not only apply to purchases, but also for rent and property taxes. Of the 10 most expensive areas in the U.S. to rent, 5 are in California.
IRS data would appear to show that it’s the middle class and middle age people that are leaving. Some experts believe that higher income families may start to migrate out of California due to the caps on state and local tax deductions with the new tax law.